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Pensions

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CTA Makes Seventh Rating Downgrade in Chicago Area in Four Months

On October 25, 2013, Moody’s Investors Service downgraded the CTA’s bond rating to A1 from Aa3 and lowered its…

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City of Chicago Fares Poorly Relative to Other Cities in Trend Analysis of Financial Indicators, FY2007—FY2011

A report released today by the Civic Federation uses nine indicators of financial condition to measure the relative financial…

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Indicators of Financial Condition: A Comparison of the City of Chicago to 12 Other U.S. Cities from FY2007 to FY2011

This report uses nine indicators of financial condition to measure the relative financial performance of Chicago and 12 other major U.S. cities from FY2007 to FY2011. In addition to Chicago, the other cities analyzed were Baltimore, Boston…

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Forest Preserve District Budgetary Achivements Threatened by Declining Health of Pension Fund

In a report released today, the Civic Federation supports the $178.8 million FY2014 budget proposed by the Forest Preserve District of Cook County. The budget holds the property tax levy flat and maintains substantial reserve funds.…

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Forest Preserve District of Cook County FY2014 Executive Budget Recommendation: Analysis and Recommendations

The Civic Federation supports the Forest Preserve District of Cook County’s FY2014 proposed $178.8 million budget that holds the property tax levy flat and maintains substantial reserve funds. However, the Federation warns that these…

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Cook County Pension Fund Levels Continue to Decline

 Recent trend analysis performed by the Civic Federation shows that the funded status of the Cook County Pension Fund declined again in fiscal year 2012, the most recent year for which data are available. The market value funded ratio…

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Growth in Illinois Pension Contributions to be Less Than Expected in FY2015

The State of Illinois will need to contribute somewhat more to its five retirement systems in FY2015, but the growth will be less than previously projected due mainly to strong investment returns. Pension contributions required by State…

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Health System's Medicaid Expansion Plan Central to Cook County FY2014 Budget

In a report released today, the Civic Federation supports Cook County’s proposed FY2014 operating budget of $3.2 billion, which holds the property tax levy relatively flat by reducing expenditures and aggressively pursuing new revenue for…

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Cook County FY2014 Executive Budget Recommendation: Analysis and Recommendations

The Civic Federation supports Cook County’s proposed FY2014 operating budget of $3.2 billion for holding the property tax levy relatively flat, reducing expenditures and aggressively pursuing new revenue for the Cook County Health and…

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Report: Illinois Missed Opportunity in Fiscal 2014 Budget

(The full content of this article is only available to the publication’s subscribers.) This article covers the release of the Civic Federation’s FY2014 State of Illinois Enacted Budget Analysis on October 2. The report found the State made…